The Chicago Bulls made one last effort to keep forward Luol Deng before deciding to trade him in a deal that sent him to the Cleveland Cavaliers for Andrew Bynum for multiple picks, including a 2014 first-rounder and the right to swap first-round picks in 2015 if the Cavs' pick is not in the lottery.

The Bulls made a final contract extension offer to Deng, who becomes a free agent at the end of the season, team General Manager John Paxson confirmed to the Chicago Tribune.

Paxson confirms offer to Deng from last week. "We felt it was competitive," he says. Said it would allow for resources to continue to build.

Before making the move to trade Deng, the team consulted coach Tom Thibodeau, who declined when asked to disclose his opinion. He did offer a summation of what Deng meant to the Bulls while he was there, however.

"I thanked him for all he did," Thibodeau said. "You couldn't ask for anything more from a player. He embodied what we stand for."

But rather than lose him at the end of the season for nothing, the Bulls, who are set to waive Bynum, will net in excess of $20 million in savings that will then be put back into the team.

Derrick Rose's meniscus injury played a part in the decision to move Deng before the February deadline, Paxson confirmed to the Tribune. Rose had previously caught wind of the Bulls' plans to trade Deng and amnesty Carlos Boozer and was not happy about the prospects of a team rebuild. Paxson said owner Jerry Reinsdorf and General Manager Gar Forman spoke with Rose and have had good communication with the team, however.

Plenty of Deng's teammates learned about the deal the way the rest of us did, a surprise either in the middle of the night or when they woke up Tuesday morning.

And, in comments to the Chicago Tribune, it was easy to pick up on the shock and hurt those within the Bulls franchise felt in the wake of the Deng deal. His dedication and hard work was appreciate throughout his almost 10-year tenure in Chicago, and that came out in quotes from those who chose to speak and even those who didn't, like center Joakim Noah.

"To have him traded is tough on us. Luol is like a brother to us," said Boozer, who is expected to be waived at the end of the year.

For now, the Bulls have Rose, Noah, Jimmy Butler and the money and picks needed to make their team better.

"The onus is on us," Paxson said. "When you get financial flexibility, you have to use that in the right way."